625 W Washington St · Petersburg, VA 23803

$199,000

6 bd · 2.0 ba · 2,980 sqft · Other public records · 117 Days on market

Built 1927 5,963 sqft lot $67/sqft · 10% below area Est $220k · 10% under

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +19.5/30.0
• ARV discount +11.8/15.0
• DSCR +6.2/10.0
• Appreciation +5.7/10.0
• 1% rule +4.7/10.0
• Rent growth +4.0/5.0
• Livability +3.1/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

PRICE ADJUSTMENT TO $199,000 on this All Brick Duplex for sale in Petersburg's Historic District. This is a wonderful buying opportunity. This all Brick Duplex has had renovations and updating already, and just needs your final touches. Property has onstreet parking on W Washington St and off-street parking in rear where property has road frontage at Hinton St. Unit A has a Living Room, 2 Bedrooms, Kitchen, Family Room, and Full Hall Bath ( one of the extra rooms could be turned into a 3rd Bedroom. Unit B ( upper level ) has a Living Room, 3 Bedrooms, Family Room, Kitchen, and Full Hall Bath. Time to make this home. .. .Yours. .. . The property is selling AS IS and purchaser must perform their own due diligence for any and all inquiries that they may have. Seller does not have a survey plat. Seller will consider Hard-Money Financing and Cash Offers ONLY. PURCHASERS MUST PHYSICALLY VIEW THE PROPERTY PRIOR TO MAKING OFFER.

Key facts

• All brick duplex
• Onstreet parking
• Road frontage

Tags

• HISTORIC DISTRICT
• ALL BRICK DUPLEX
• RENOVATIONS AND UPDATING
• ONSTREET PARKING
• OFF-STREET PARKING
• ROAD FRONTAGE

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath other listed at $199k.

Deal economics

• At list price, monthly cash flow is $225 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $192k (3.4% below list).
• Recommended offer: $181k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 4.5% in Petersburg — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 61/100 on livability (#413 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: schools D+, crime F, amenities F.
• Petersburg City Public School District (suburban): math 26% / reading 44% proficiency, ranked #131 of 131 in VA (top 100%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.9%/yr); 290 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 118 units permitted in Petersburg city in 2024 (84 in 5+ unit buildings).
• This rent runs 40% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $4k of equity ($1k loan paydown + $3k appreciation (1.4% local appreciation)).
• Petersburg County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.4% appreciation + 5.9% rent growth), your $56k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 117 days — a 9% lower offer ($181k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 10y ago; this cycle's ask has dropped $41k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 41% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $181,090 (9.0% below list)

Questions for the listing agent

1. It's been on market 117 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.97% ✗
• Cap rate: 7.65%
• Cash-on-cash: 4.85%
• DSCR: 1.22
• GRM: 8.6

CMA / ARV

• ARV (median comp): $220,129
• List price: $199,000
• Delta: -9.60%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

1.45% appreciation · 5.89% rent growth · sell at horizon

5-year hold

• IRR: 9.5%
• Equity multiple: 1.51×
• Total profit: $28,189
• Equity at exit: $72,623

10-year hold

• IRR: 14.7%
• Equity multiple: 2.99×
• Total profit: $110,851
• Equity at exit: $100,244

Cash invested: $55,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 55 Moderately Landlord-Leaning
• State Virginia: 55 Moderately Landlord-Leaning · D+2
• County: — inherits STATE
• City: — inherits STATE

VRLTA gives some tenant protections; Northern Virginia courts slower; rural VA landlord-leaning.

Methodology + full state rankings →

ZIP-level market 23803

• Home prices YoY: 0.3%
• Rents YoY: 5.9%
• Active inventory: 290
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,922 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$167 /mo · $2,000/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $225

Break-even live

Break-even rent $1,637

Max offer price $199,000

Occupancy floor 83%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
922 Wilcox St Petersburg, VA	5.0	2.5	1985	$1,799	$0.91	2d	1	0.41mi
608 Halifax St Unit 608 Petersburg, VA	5.0	2.5	2288	$1,699	$0.74	2d	1	0.70mi
1021 Melville St Petersburg, VA	5.0	2.0	2014	$1,899	$0.94	15d	1	0.98mi

Listing history 22 events

1. 2026-06-08
   statusdays on market $199,000 Pending 117 DOM
2. 2026-06-07
   days on market $199,000 Active 116 DOM
3. 2026-06-05
   days on market $199,000 Active 113 DOM
4. 2026-06-03
   days on market $199,000 Active 112 DOM
5. 2026-06-02
   days on market $199,000 Active 111 DOM
6. 2026-06-01
   days on market $199,000 Active 110 DOM
7. 2026-05-31
   days on market $199,000 Active 109 DOM
8. 2026-04-18
   price $199,000 934-char remark

   Show marketing remark (934 chars)

   PRICE ADJUSTMENT TO $199,000 on this All Brick Duplex for sale in Petersburg's Historic District. This is a wonderful buying opportunity. This all Brick Duplex has had renovations and updating already, and just needs your final touches. Property has onstreet parking on W Washington St and off-street parking in rear where property has road frontage at Hinton St. Unit A has a Living Room, 2 Bedrooms, Kitchen, Family Room, and Full Hall Bath ( one of the extra rooms could be turned into a 3rd Bedroom. Unit B ( upper level ) has a Living Room, 3 Bedrooms, Family Room, Kitchen, and Full Hall Bath. Time to make this home. .. .Yours. .. . The property is selling AS IS and purchaser must perform their own due diligence for any and all inquiries that they may have. Seller does not have a survey plat. Seller will consider Hard-Money Financing and Cash Offers ONLY. PURCHASERS MUST PHYSICALLY VIEW THE PROPERTY PRIOR TO MAKING OFFER.

9. 2026-04-17
   status Active 934-char remark

   Show marketing remark (934 chars)

   PRICE ADJUSTMENT TO $199,000 on this All Brick Duplex for sale in Petersburg's Historic District. This is a wonderful buying opportunity. This all Brick Duplex has had renovations and updating already, and just needs your final touches. Property has onstreet parking on W Washington St and off-street parking in rear where property has road frontage at Hinton St. Unit A has a Living Room, 2 Bedrooms, Kitchen, Family Room, and Full Hall Bath ( one of the extra rooms could be turned into a 3rd Bedroom. Unit B ( upper level ) has a Living Room, 3 Bedrooms, Family Room, Kitchen, and Full Hall Bath. Time to make this home. .. .Yours. .. . The property is selling AS IS and purchaser must perform their own due diligence for any and all inquiries that they may have. Seller does not have a survey plat. Seller will consider Hard-Money Financing and Cash Offers ONLY. PURCHASERS MUST PHYSICALLY VIEW THE PROPERTY PRIOR TO MAKING OFFER.

10. 2026-03-25
    status Pending 934-char remark

    Show marketing remark (934 chars)

    PRICE ADJUSTMENT TO $199,000 on this All Brick Duplex for sale in Petersburg's Historic District. This is a wonderful buying opportunity. This all Brick Duplex has had renovations and updating already, and just needs your final touches. Property has onstreet parking on W Washington St and off-street parking in rear where property has road frontage at Hinton St. Unit A has a Living Room, 2 Bedrooms, Kitchen, Family Room, and Full Hall Bath ( one of the extra rooms could be turned into a 3rd Bedroom. Unit B ( upper level ) has a Living Room, 3 Bedrooms, Family Room, Kitchen, and Full Hall Bath. Time to make this home. .. .Yours. .. . The property is selling AS IS and purchaser must perform their own due diligence for any and all inquiries that they may have. Seller does not have a survey plat. Seller will consider Hard-Money Financing and Cash Offers ONLY. PURCHASERS MUST PHYSICALLY VIEW THE PROPERTY PRIOR TO MAKING OFFER.

11. 2026-03-04
    status Active 934-char remark

    Show marketing remark (934 chars)

    PRICE ADJUSTMENT TO $199,000 on this All Brick Duplex for sale in Petersburg's Historic District. This is a wonderful buying opportunity. This all Brick Duplex has had renovations and updating already, and just needs your final touches. Property has onstreet parking on W Washington St and off-street parking in rear where property has road frontage at Hinton St. Unit A has a Living Room, 2 Bedrooms, Kitchen, Family Room, and Full Hall Bath ( one of the extra rooms could be turned into a 3rd Bedroom. Unit B ( upper level ) has a Living Room, 3 Bedrooms, Family Room, Kitchen, and Full Hall Bath. Time to make this home. .. .Yours. .. . The property is selling AS IS and purchaser must perform their own due diligence for any and all inquiries that they may have. Seller does not have a survey plat. Seller will consider Hard-Money Financing and Cash Offers ONLY. PURCHASERS MUST PHYSICALLY VIEW THE PROPERTY PRIOR TO MAKING OFFER.

12. 2026-02-20
    status Pending 934-char remark

    Show marketing remark (934 chars)

    PRICE ADJUSTMENT TO $199,000 on this All Brick Duplex for sale in Petersburg's Historic District. This is a wonderful buying opportunity. This all Brick Duplex has had renovations and updating already, and just needs your final touches. Property has onstreet parking on W Washington St and off-street parking in rear where property has road frontage at Hinton St. Unit A has a Living Room, 2 Bedrooms, Kitchen, Family Room, and Full Hall Bath ( one of the extra rooms could be turned into a 3rd Bedroom. Unit B ( upper level ) has a Living Room, 3 Bedrooms, Family Room, Kitchen, and Full Hall Bath. Time to make this home. .. .Yours. .. . The property is selling AS IS and purchaser must perform their own due diligence for any and all inquiries that they may have. Seller does not have a survey plat. Seller will consider Hard-Money Financing and Cash Offers ONLY. PURCHASERS MUST PHYSICALLY VIEW THE PROPERTY PRIOR TO MAKING OFFER.

13. 2026-02-07
    price $219,000 934-char remark

    Show marketing remark (934 chars)

    PRICE ADJUSTMENT TO $199,000 on this All Brick Duplex for sale in Petersburg's Historic District. This is a wonderful buying opportunity. This all Brick Duplex has had renovations and updating already, and just needs your final touches. Property has onstreet parking on W Washington St and off-street parking in rear where property has road frontage at Hinton St. Unit A has a Living Room, 2 Bedrooms, Kitchen, Family Room, and Full Hall Bath ( one of the extra rooms could be turned into a 3rd Bedroom. Unit B ( upper level ) has a Living Room, 3 Bedrooms, Family Room, Kitchen, and Full Hall Bath. Time to make this home. .. .Yours. .. . The property is selling AS IS and purchaser must perform their own due diligence for any and all inquiries that they may have. Seller does not have a survey plat. Seller will consider Hard-Money Financing and Cash Offers ONLY. PURCHASERS MUST PHYSICALLY VIEW THE PROPERTY PRIOR TO MAKING OFFER.

14. 2026-01-31
    status Active 934-char remark

    Show marketing remark (934 chars)

    PRICE ADJUSTMENT TO $199,000 on this All Brick Duplex for sale in Petersburg's Historic District. This is a wonderful buying opportunity. This all Brick Duplex has had renovations and updating already, and just needs your final touches. Property has onstreet parking on W Washington St and off-street parking in rear where property has road frontage at Hinton St. Unit A has a Living Room, 2 Bedrooms, Kitchen, Family Room, and Full Hall Bath ( one of the extra rooms could be turned into a 3rd Bedroom. Unit B ( upper level ) has a Living Room, 3 Bedrooms, Family Room, Kitchen, and Full Hall Bath. Time to make this home. .. .Yours. .. . The property is selling AS IS and purchaser must perform their own due diligence for any and all inquiries that they may have. Seller does not have a survey plat. Seller will consider Hard-Money Financing and Cash Offers ONLY. PURCHASERS MUST PHYSICALLY VIEW THE PROPERTY PRIOR TO MAKING OFFER.

15. 2025-11-27
    status Pending 934-char remark

    Show marketing remark (934 chars)

    PRICE ADJUSTMENT TO $199,000 on this All Brick Duplex for sale in Petersburg's Historic District. This is a wonderful buying opportunity. This all Brick Duplex has had renovations and updating already, and just needs your final touches. Property has onstreet parking on W Washington St and off-street parking in rear where property has road frontage at Hinton St. Unit A has a Living Room, 2 Bedrooms, Kitchen, Family Room, and Full Hall Bath ( one of the extra rooms could be turned into a 3rd Bedroom. Unit B ( upper level ) has a Living Room, 3 Bedrooms, Family Room, Kitchen, and Full Hall Bath. Time to make this home. .. .Yours. .. . The property is selling AS IS and purchaser must perform their own due diligence for any and all inquiries that they may have. Seller does not have a survey plat. Seller will consider Hard-Money Financing and Cash Offers ONLY. PURCHASERS MUST PHYSICALLY VIEW THE PROPERTY PRIOR TO MAKING OFFER.

16. 2025-11-03
    listed $239,900 Active 934-char remark

    Show marketing remark (934 chars)

    PRICE ADJUSTMENT TO $199,000 on this All Brick Duplex for sale in Petersburg's Historic District. This is a wonderful buying opportunity. This all Brick Duplex has had renovations and updating already, and just needs your final touches. Property has onstreet parking on W Washington St and off-street parking in rear where property has road frontage at Hinton St. Unit A has a Living Room, 2 Bedrooms, Kitchen, Family Room, and Full Hall Bath ( one of the extra rooms could be turned into a 3rd Bedroom. Unit B ( upper level ) has a Living Room, 3 Bedrooms, Family Room, Kitchen, and Full Hall Bath. Time to make this home. .. .Yours. .. . The property is selling AS IS and purchaser must perform their own due diligence for any and all inquiries that they may have. Seller does not have a survey plat. Seller will consider Hard-Money Financing and Cash Offers ONLY. PURCHASERS MUST PHYSICALLY VIEW THE PROPERTY PRIOR TO MAKING OFFER.

17. 2025-01-05
    historical
18. 2024-12-04
    price $269,950
19. 2024-11-20
    listed $279,950 Active
20. 2023-06-21
    soldstatus $200,000
21. 2016-08-31
    historical
22. 2016-06-22
    listed $45,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast VA · Resets to sale price

• Current annual tax: $2,000 · $167/mo
• Projected year-2 tax: $2,000 · $167/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥109°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 41% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,062
• − Mortgage interest: −$11,147
• − Property taxes: −$2,000
• − Insurance: −$995
• − Repairs & maintenance: −$1,845
• − Management: −$1,845
• − Depreciation: −$5,789
• Taxable loss: −$560
• Est. tax savings @ 24.0%: +$134
• After-tax cash flow: $2,835/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Petersburg City Public School District
• NCES district ID: 5102910
• Math proficiency: 26% ▼ -27.00%
• Reading proficiency: 44% ▼ -8.00%
• Median HH income: $34,362
• Composite: 28.78/100
• National rank: #6670
• State rank: #131 of 131 in VA

Livability — Petersburg

• Score: 61/100
• State rank: #413
• US rank: #17309

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment D- Housing A Health & safety B- User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Petersburg, VA
• County: Chesterfield County · 406,988 people
• City population: 63,420
• Metro: Richmond, VA
• Population (ZIP): 42,012
• Household income: $57,813
• Rent vs Own: 48.9% rent · 51.1% own
• Severe rent burden: 2485.0

Population outlook (Petersburg County) Hauer SSP2

• Today (2025): 30,488 people
• By 2030: 29,771 · -2.4%
• By 2040: 28,401 · -6.8%
• By 2050: 27,279 · -10.5%
• By 2075: 25,877 · -15.1%
• By 2100: 24,288 · -20.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 58% White 31% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Italian 1% Romanian 1% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5%

Political lean MEDSL · Petersburg

• 2024 margin: Solid D (+72.8) · D 85.8% · R 13.0% · Other 1.2%
• 2008→2024 swing: -5.7pp toward R · 2008: 78.5pp · 2024: 72.8pp
• All cycles: 2024: D+72.8 2020: D+76.5 2016: D+77.0 2012: D+80.4 2008: D+78.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.45%
• Current HPI: 480.5365
• Rent YoY: ▲ 5.89%
• Metro: Richmond, VA
• State GDP YoY: ▲ 2.40%
• F500 in state: 50

Industry mix (Fortune 500 HQ in VA)

Industry	F500 HQs	Revenue
▸Aerospace / Defense	4	$236B
▸Technology / Defense	3	$32B
▸Financial Services	2	$176B
▸Utilities	2	$27B
▸Insurance	2	$25B
▸Technology	2	$15B

Price history

+342.2% since first listed

15 events — show timeline

• 2026-04-18 Price Changed $199,000 CVRMLS
• 2026-04-17 Relisted — CVRMLS
• 2026-03-25 Pending — CVRMLS
• 2026-03-04 Relisted — CVRMLS
• 2026-02-20 Pending — CVRMLS
• 2026-02-07 Price Changed $219,000 CVRMLS
• 2026-01-31 Relisted — CVRMLS
• 2025-11-27 Pending — CVRMLS
• 2025-11-03 Listed $239,900 CVRMLS
• 2025-01-05 Listing Removed — CVRMLS
• 2024-12-04 Price Changed $269,950 CVRMLS
• 2024-11-20 Listed $279,950 CVRMLS
• 2023-06-21 Sold (Public Records) $200,000 Public Records
• 2016-08-31 Listing Removed — CVRMLS
• 2016-06-22 Listed $45,000 CVRMLS

Property tax history

+8.5%/yr

Latest (2025): $2,000 · +0.0% YoY. Source: county tax records.